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Calculate the compound interest and amount on Rs. 1600 for `1 1/2` years at the rate of 10% compound interest per annum compounded at the interval of 6 months. |
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Answer» Here principal `=Rs. 1600` rate of interest `=10%` time `=1 1/2` years `=3/2` years, period `=12/6=2` Hence the required amount `=Rs. 1600(1+(10/2)/100)^(3/2xx2)` `=Rs. 1600(1+1/20)^(3)=Rs. 1600(21/20)^(3)` `=Rs. (1600xx21xx21xx21)/(20xx20xx20)=Rs. 1852.20` `:.` Required compound interest `=Rs. (1852.20-1600)=Rs. 252.20` Hence the required compound interest `=Rs. 252.20` and the required amount `=Rs. 1852.20` |
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